Langley School District budget looks promising
For the first time in a long time, it’s a pretty good news budget for the Langley School District.
“We didn’t have to cut a lot of things this year,” said secretary-treasurer David Green at Tuesday night’s board of education meeting.
On top of that, the district continues to pay off the deficit well ahead of the government imposed schedule of 2015.
Predictions for next year’s school population are higher than expected too, he said.
Next school year, enrolment is predicted to be up by 266 students which will contribute $1.8 million more in revenue for the district.
The Ministry of Education grant was down $2.2. million this year but the special education supplement was higher. Expenses for principals and vice-principals cost the district more this year than last.
But where there will be a hit is the district’s pension plan which has taken a nosedive.
“There is a $668,000 hit on the pension plan last year and our assets will continue to decline in value,” he said.
First and second reading of Langley School District’s budget was delayed until a special meeting next Monday, to give staff some time to complete it.
At Tuesday meeting, Green said changes to how they calculate certain aspects of the budget led his finance team to redo the budget.
Trustees encouraged residents to come out to an open house at the board office starting at 6 p.m. on Monday, June 18 before they vote.
Another special meeting on Monday June 25 at 5:30 p.m. will be held to vote on third and final reading of the budget.